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Federal student loan interest rates are fixed for the life of the loan; however, the rates for new loans will change annually, based on the current market. The interest rates for the 2013–2014 academic year are as follows: 3.86% for undergraduate Stafford Loans (both subsidized and unsubsidized) 5.41% for graduate Stafford Loans [6]
For most Stafford loans made before July 1, 2006: Variable rate applies (changing annually with an 8.25% cap). Stafford loans made beginning July 1, 2006: 6.8%. New subsidized Stafford loans to undergraduates beginning July 1, 2008 (per recent budget reconciliation law): 6.0% for a loan first disbursed between July 1, 2008, and June 30, 2009
Accrued interest is added to the loan amount, and the borrower makes payments on the total. Students can make payments while studying. Graduate students have higher limits: $8,500 for subsidized Stafford and $12,500 (varying by course of study) for unsubsidized Stafford. For graduate students, the Perkins limit is $6,000 per year.
Subsidized Federal Stafford Loans (from the FFEL Program) ... Unsubsidized Federal Stafford Loans (from the FFEL Program) ... State tax may be assessed on any forgiven amount when there is a ...
When you take out federal student loans to pay for school, you may be considering subsidized versus unsubsidized loans. Subsidized vs. Unsubsidized Loans: Which Is Better for College Borrowing ...
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The Unsubsidized Stafford Loan and Grad PLUS loans are non-need-based loans available for both undergraduate and graduate students who do not qualify for need-based financial aid. [ 16 ] Even though these loans are not subsidized, interest rates are set by Congress, the programs are closely supervised, and they provide many protections that ...
As of 2022, over half of all college students have taken on student loans to pay their tuition. Future students will likely need loans as well and should understand their options.